Is there a tax limit to giving support to a family member? 3 Answers as of June 08, 2011

Since I resigned from my job, my mother has been supporting me. Is there a limit as to how much money can be given in support?

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David Hoines Law
David Hoines Law | David Hoines
No, but gift tax exposure if over $13000 per year.
Answer Applies to: Florida
Replied: 6/7/2011
Steven J. Fromm
Steven J. Fromm | Steven J. Fromm & Associates, P.C.
However, from a gift tax perspective, your mom can give you $13,000 without having to file a gift tax return or using up her lifetime unified credit that is currently $5,000,000. If her husband joins in the gift this amount can be $26,000. From an income tax perspective, the money given to you is not taxable income. You have not stated your age but if she provides over 1/2 of your support and other criteria are met she may be able to claim as a dependent.
Answer Applies to: Pennsylvania
Replied: 6/7/2011
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